Oslo, December 4th 2023: Reference is made to the stock exchange notice from
Volue ASA ("VOLUE" or the "Company") on December 22nd, 2021 announcing that the
board of directors of the Company (the "Board") had established a share option
plan for members of the Company's senior management and certain other key
employees.

The total number of share options that may be issued under the plan is 2,397,747
for the third year grant of options. The share options have been granted over a
three-year period, and the plan has been assessed annually for further grants.
Each share option granted under the plan carries the right to acquire one share
in the Company. The share options vest three years after the date of grant and
will lapse if not exercised within seven years following the date of grant. For
the share options to vest, a minimum average share price development of 4.5%
p.a. is required. Upon any exercise of share options, the Company may settle its
obligations by selling the relevant number of shares or by payment in cash. The
strike price of the share options will be based on the volume weighted average
share price over the ten last trading days preceding the grant date. The total
profit each option holder may achieve shall be limited to 300% of the fair
market value of the share at grant.

A total of 2,397,747 share options have been granted for the third year under
the share option plan at a strike price of NOK 17.6144 per share. Share options
have been granted to the following primary insiders:

Trond Straume, CEO: 359,662 share options. Following the grant, Straume holds a
total of 1,149,389 share options in the Company. 

Arnstein Kjesbu, CFO: 244,766 share options. Following the grant, Kjesbu holds a
total of 718,602 share options in the Company.

Ingeborg Gjærum, COO: 150,000 share options. Following the grant, Gjærum holds a
total of 407,875 share options in the Company. 

Richard Schytte, CCO: 110,000 share options. Following the grant, Schytte holds
a total of 200,000 share options in the Company. 

Håvard Pedersen, CDO: 110,000 share options. Following the grant, Pedersen holds
a total of 260,000 share options in the Company.

Jörg Lienhart, CTO: 110,000 share options. Following the grant, Lienhart holds a
total of 267,875 share options in the Company.

See attachment for further details about the grant of options to each primary
insider. 
Following the grant, the total number of outstanding options in the Company are
6,644,937.

For further information, please contact: 
Jacob Zeno Clausen Krøvel, Head of Investor Relations, Volue +47 4840 3225,
Jacob.krovel@volue.com
About Volue | www.volue.com

Volue is a market leader in technologies and services that power the green
transition. Based on 50 years of experience, Volue provides innovative
solutions, systems and insights to industries critical to society. Over 800
employees work with more than 2,500 customers across energy, power grid, water
and infrastructure projects that ensure a sustainable, flexible and reliable
future. The company is headquartered in Oslo, Norway and active in 40+
countries. Visit volue.com for more information.

This information is subject to the disclosure requirements pursuant to the
Market Abuse Regulation article 19 and 5-12 of the Norwegian Securities Trading
Act.